Influence is an integral part of all media. The Advertising Week discussion, “Earned Media: If it’s truly earned, then how do you buy it?” (part of the two-hour summit, “Under The Influence: The Convergence of Media and Influence”), explored the added brand lift of earned media over paid media, and how both are inherently integral to a cohesive ad campaign.
Earned media refers to the favorable publicity gained through promotional efforts beyond paid advertising, via social sharing for a more long-term impact beyond the traditional ad buy.
Data shows that the top apps users are likely to share the brands that they like most with their friends, and broadcast results for pick-your-favorites, quizzes and trivia. In fact, when interacting with a branded quiz app, participants are three times more likely to share the results to their news feeds versus when they participate in a video contest or enter a sweepstakes.
This panel discussion brought the conversation out of just social, and shed light on how agencies and brands are spending money against it. The conversation focused on listening to your customers via social channels and sharing with them, the co-creation of a brand.
Topics mentioned include examining strategic approaches and considerations to driving and planning for business value in communities at scale. It looked at communities that are quickly evolving into measurable, ROI-driven marketing channels for advertisers and marketers. Also the panelists talked about the value of social currency, defined as placing a value on all earned media that the brand travels with. How you value all the social chatter about the brand to measure success?
Overall, the consensus was that spend will continue to grow as long as the community platforms continue to improve both the communication and the delivery value of a brand message.